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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Commissions $ 1,100,225 $ 1,504,066 $ 2,139,168 $ 3,039,311
Fees earned from affiliated entities pursuant to research services agreements 0 375,000 0 752,500
Principal transactions (2,060) (1,190) (2,963) (1,270)
Dividends and interest 11,833 58,085 48,089 121,778
Underwriting fees 0 94,177 30,488 94,177
Sales manager fees 0 122,571 334,825 122,571
Other revenues 151 2,103 3,258 8,012
Total revenues 1,110,149 2,154,812 2,552,865 4,137,079
Expenses        
Compensation and related costs 836,541 2,483,153 1,979,974 4,962,045
Clearing charges 315,191 313,493 618,029 603,874
General and administrative 346,964 239,988 658,073 564,830
Occupancy and equipment 52,800 196,898 157,241 392,740
Total expenses 1,551,496 3,233,532 3,413,317 6,523,489
Loss before income tax benefit (441,347) (1,078,720) (860,452) (2,386,410)
Income tax benefit (130,949) (245,558) (267,600) (512,606)
Net loss $ (310,398) $ (833,162) $ (592,852) $ (1,873,804)
Net loss per share        
Basic and diluted (in dollars per share) $ (0.52) $ (1.52) $ (0.99) $ (3.42)
Weighted average shares outstanding:        
Basic and diluted (in shares) 600,090 548,591 600,090 548,591